Bhushan Steel Ltd has informed BSE that in order to ease out constantly facing stress in Cash flow, the Company has entered into sale & lease back arrangements of its Oxygen plants situated at Company's Steel Division, Meramandali Orissa.

The e-auction of schedule III blocks, which include the ones that are near commissioning, was due to begin Wednesday. However, it has been deferred owing to litigation in Delhi High Court, said sources.

It had reported Rs 54.79 crore net loss for the corresponding quarter if last fiscal, 2013-14, the company said in an exchange filing today. Its income from operations grew marginally to Rs 2,460 crore, from Rs 2,407 crore a year earlier.

Stating the Delhi High Courts ruling to remove two coal blocks from ongoing coal auction will not impact it, Coal Secretary Anil Swarup today said that while the government was fully prepared to contest such cases, it had not yet taken decided whether to move the Supreme Court to contest the decision.

Bhushan Steel Ltd has informed BSE that in order to ease out constantly facing stress in Cash flow, the Company has entered into sale & lease back arrangements of its Oxygen plants situated at Company's Steel Division, Meramandali Orissa.

The e-auction of schedule III blocks, which include the ones that are near commissioning, was due to begin Wednesday. However, it has been deferred owing to litigation in Delhi High Court, said sources.

It had reported Rs 54.79 crore net loss for the corresponding quarter if last fiscal, 2013-14, the company said in an exchange filing today. Its income from operations grew marginally to Rs 2,460 crore, from Rs 2,407 crore a year earlier.

Stating the Delhi High Courts ruling to remove two coal blocks from ongoing coal auction will not impact it, Coal Secretary Anil Swarup today said that while the government was fully prepared to contest such cases, it had not yet taken decided whether to move the Supreme Court to contest the decision.